Govt set to launch interest-free loan scheme for youth

PESHAWAR: Adviser to the Chief Minister on Sports and Youth Affairs, Syed Fakhar Jehan on Wednesday said that the government was launching the “Ehsaas Nawjawan Rozgar Scheme” to help the youth in the province to start their own business and entrepreneurship.

He said this while chairing a meeting on this provincial government project for the welfare of the youth in Peshawar. Secretary of Sports and Youth Affairs Matiullah, Director for Youth Affairs Dr. Noman Mujahid, Bank of Khyber head of Microfinance Asad Kakakhel and other officials attended the meeting.

He said this scheme would provide interest-free loans to youth across the province to establish their own business in every sector.The adviser said under this scheme, interest-free loans of one million to 10 million would be provided to youth belonging to the province in the form of clusters.

The loans would be disbursed through the Bank of Khyber (BoK) and designated branches of the bank would be identified for the purpose.The advisor said this scheme of the province would consist of interest-free loans through which they can develop their existing business or start a new business for themselves.

Earlier, the advisor was given a detailed briefing on this project and he was informed about the importance and usefulness of the project. It should be noted that the total cost of the said scheme will be 5 billion rupees and a five percent specific quota will be allocated for minorities, special persons and young people studying in madaris under the scheme.